EUR/USD: There is still a Bullish Confirmation Pattern in the chart. The price is trading under the resistance line at 1.3750, and above the support line at 1.3700. The EUR/USD is currently consolidating, but a breakout in the direction of the dominant bias is soon expected.
USD/CHF: The USD/CHF remains in the bear market in spite of the slow and tardy movement of it. The price is trading under the resistance level at 0.8900 and above the support level at 0.8850. The pair is currently consolidating, but a breakout in the direction of the dominant bias is soon expected. At least, it should test the support level at 0.8850 very soon.
GBP/USD: Hitherto, the GBP/USD has been able to maintain its bullish bias because it has been able to maintain its stance above the accumulation territory at 1.6600. The bullish territory cannot be violated unless the price breaches this accumulation territory to the downside. A rally is possible from here.
USD/JPY: This currency trading instrument has been consolidating for about 3 weeks in a row – without a protracted trend confirmation pattern in the chart. Intraday strategies are recommended here, or better, scalping strategies. However, momentum would soon return to the market.
EUR/JPY: Here, we would continue to watch the supply levels at 141.50 and 142.00, for they are the immediate targets when there is a breakout in the market. The overall bias is bullish and it is highly probable that the price would go upwards when a breakout does happen.
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